Penny Stock At Rs 1.90 Locked in 20 Per Cent Upper Circuit as Company Reports a 1,414.5 Per Cent Jump in PAT

From Rs 1.14 (52-week low) to Rs 1.90 per share, the stock is up by 66.7 per cent.

On Thursday, shares of G G Engineering Ltd hit 20 per cent upper circuit to Rs 1.90 per share from its previous closing of Rs 1.59 per share. The stock’s 52-week high is Rs 2.97 per share and its 52-week low is Rs 1.14. The shares of the company saw a spurt in volume by more than 5 times on BSE.

G G Engineering Limited (GGEL) is an Indian company that manufactures engineering products, infrastructure, and structural steel. The company was established in 2006 and is based in India. GGEL's products are used in many industries, including construction, infrastructure, mega projects, modern buildings, and high-rise residential and commercial projects.

According to Quarterly Results, net sales increased by 44.3 per cent to Rs 105.71 crore and net profit increased by 1,414.5 per cent to Rs 11.42 crore in Q2FY25 compared to Q2FY24. In H1FY25, the net sales increased by 90.3 per cent to Rs 175.44 crore and net profit increased by 746 per cent to Rs 9.24 crore compared to H1FY24. In its annual results, net sales increased by 113 per cent to Rs 212.11 crore in FY24 compared to Rs 99.57 crore in FY23. The company reported a net profit of Rs 7.10 crore in FY24 compared to Rs 7.93 crore in FY23.

The company has a market cap of over Rs 300 crore and has delivered good profit growth of 19 per cent CAGR over the last 5 years. As of June 2024, promoters of the company own a 1.71 per cent stake while the public owns a 98.29 per cent stake. From Rs 1.14 (52-week low) to Rs 1.90 per share, the stock is up by 66.7 per cent. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.